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laid back new year's celebration ever? no. celebration of washington state's brand new pot law. yes, they're smoking joints. >>> i dare you, like double dare you. obama administration bites and says, yeah, we're prepared to go off the fiscal cliff. >>> roger goodell, the commissioner football fans love to hate. there's a softer, gentler side of goodell. seriously. the nfl commissioner you don't know. "newsroom" starts now. >>> good morning. thank you so much for joining me. i'm carol costello. smoke 'em if you got 'em. recreational marijuana is officially legal in washington state. shall we say a rather mellow celebration at seattle's space needle? pot smokers lit up like it was new year's eve. new voter approved initiative went into effect midnight. this pot party technically, is illegal. wz's law bans smoking pot in public places. for now the seattle police department is turning a blind eye. this notice was sent to all officers last night. until further notice officers shall not take any enforcement action, other than to issue a verbal warning, for a violation of initiative 502. m
lunch." we have three major news conferences in washington, d.c. president obama will nominate senator john kerry to be his next secretary of state. harry reid will be on the senate floor and house minority leader nancy pelosi will discuss the cliff crisis. with plan b history, washington is scrambling to get a deal done. the markets however are decidedly worried. dow jones has been down triple digits almost all session. we are off our worst lefs, down about 174 point a few moments ago. down 152 on the dow. 17 to the minus side and nasdaq is off almost 40. let's go to washington where john har wood is standing by with the latest on the fiscal cliff follies. john? >> all follies so far, sue. we had house speaker john boehner come out today and have a news conference explaining the failure of his plan b last night which stunned a lot of people because both boehner and eric cantor majority leader said they were confident they had the most to pass it. what he said today at a news conference is that there were members who had a perception which he said was incorrect. it would raise taxes. t
that there is going to be a positive conclusion in washington. the downside is not if there is not a vote to settle it. >> thank you, guys. see you later. have a good weekend. that's the first hour of the "closing bell" with the dow down 40 point. here's the second hour now with bartiromo. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo. this market closing lower on this day of national tragedy. we'll have the late on the senseless school shooting in connecticut in just a moment for you, but, first, take a look at how we're finishing the day on wall street. declines on the market. once again worries about the fiscal cliff going into year end. the dow jones industrial average down about 33 points on the session at 13,137. volume really stopped in the middle of the day. we saw things slow down quite a bit on the heels of the awful shooting and fatalities in connecticut. the nasdaq and s&p 500 also under pressure today. the mood down here impacted by the awful events in connecticut with us is hank smith of haverford investments and maggie patel and rajai from barclay
what washington needs to crack the whole fiscal cliff thing wide-open. all i'm saying is i think it has the power to bring people together simpson style. that's it for us. thanks for watching. "early start" begins now. >>> new this morning, tanks and personnel carriers stationed outside the presidential palace in egypt, clashes turning deadly overnight. rage at the new leader fears he may become the old leader. we're live from outside the palace in 30 seconds. >>> plus new reports that syria is putting chemical components in bombs. the details, straight ahead. >>> as of this morning for the first time in the history of our country, it is now legal to smoke pot for recreational purposes in a state and we are there for the pot party. good morning, welcome to "early start." i'm christine romans in for john berman this thursday morning. >> i bet you never thought you'd say that, live at a pot party. >>> good morning to you, i'm zoraida sambolin, 5:00 a.m. in the east here. >>> tension has quickly turned to deadly violence in egypt. this morning, tanks and armored personnel carriers are guar
. possession is now legal in washington state. but the new marijuana law is now setting the stage for a new showdown involving the feds. we get the story from kristen dahlgren. >> reporter: at seattle landmark, a celebration. as of midnight, washington state's new law makes it legal for adults to possess up to an ounce of marijuana. >> the first legal case. >> reporter: the new system is modelled on alcohol laws. it is still illegal to drive impaired or possess pot under twenty-one, they issued verbal warnings only. you can legally possess one ounce, use it in private. but stores will not be licensed to sell it for recreational use for a year, without a prescription there is still no sale. recreational users are going to say where am i going to buy this marijuana if it is illegal to sell marijuana still? >> reporter: federal law still prohibits the sale in any state. >> the federal government may prosecute anyone who uses marijuana on federal land, parks's courthouses, and could go after the large-scale growers whether or n who supply the marijuana. >> reporter: but attitudes towards pot ma
happening in washington, d.c. a lot happening i would assume at the white house. but how engaged is the presidented to in moving this thing forward? >> reporter: good afternoon, t.j. i am told there are conversations going on at the staff level. as you know, he met with congressional leaders here at the white house for about an hour on friday. now sources who are familiar with that conversation tell me that the president essentially said to lawmakers, you have two options. one, come up with a plan that can make its way through both chambers, or allow his proposal to go through a vote in both chambers. and that's what you heard the president referencing in that sound bite that you just aired, t.j. in the president's proposal it calls for extending the bush era tax cuts for those making $250,000 or less as well as extending unemployment insurance benefits. many republicans have an issue with that tax extension for the $250,000 mark because it allows rates to raise on those making more than $250,000. as you heard roy blunt just say, they think that would be bad for the economy. so t
joe" from washington. live with us here, nbc chief foreign affairs correspondent and host of "andrea mitchell reports," andrea mitchell. white house correspondent for the huffington post, sam stein, executive editor of bloomberg news, al hunt and "time" magazine senior political analyst and "way too early" talent -- he was just extraordinary -- mark halperin. mark, you were just -- you were extraordinary. >> no one told me there's no net in that job. >> there is no net. he was great. who could turn the world on with a smile? i mean, mark halperin could, al hunt. >> throwing his hat in the air. >> we need to toss his hat in the air. sam stein has no idea what we're talking about. >> zero. >> so depressed. not a "seinfeld" reference, the greatest series of all time. al hunt, al, this is -- i'm at a loss what's going on in washington. i mean, we can all assign blame. i, right now, am especially curious with what's going through my party's mind on the fiscal cliff. but what -- why the breakdown? you know, if you're a republican, you say, i'll raise taxes. you have crossed the line. you h
report" is coming up next. >> harris: this is the fox report. tonight, drama from washington to wall street. no deal on the fiscal cliff on this final friday before christmas. negative reaction from investors as the president speaking moments ago tries to calm the fray. plus, president obama making it official. >> i'm very proud to announce my choice for america's next secretary of state, john kerry. >> the president calling on the veteran massachusetts senator to fill secretary clinton's spot. plus in the wake of the new town shooting the national rifle association breaks its silence. >> out of respect for the families and until the facts are known, the nra has refrained from comment. >> harris: and the group's ceo placing some blame. >> we have flood soaked films out there. vicious, violent video games. >> and the nra offering a proposal, an armed officer in every single school in america. also, mexican police locked up this former u.s. marine months ago, accused him of trying to bring a gun into the country. >> a lesser person would have pleaded guilty. >> they chained him to a be
back to us. >> yeah. thank you. >>> there is some action in washington tonight. at this hour the senate has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related spending items that are in the bill. typical sausage making for washington. >>> let's get to our panel. here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they're ready to haggle over s
washington. what's the the latest on the talks or the silence? >> the silence seems to be golden, john. remember last week when all the players involved seem to be posturing and positioning and talking about negotiations? not so much, at least in the past few days. we know president obama and house speaker john boehner had a one-on-one meeting, right, on sunday, their first since mid-november. what were the details from that meeting and from the ongoing discussions? they're not really -- both sides are not really being forthcoming with what the substance of those conversations, both sides yesterday, the white house and the republican leadership put out statements. they're essentially the same. i'll read just one from boehner's press secretary. discussions with the white house are taking place but we have no detail to share about the substance of those conversations. the republican offer made last week remains the republican offer and we continue to wait for the president to identify the spending cuts he's willing to make as part of the balanced approach he promised the american people.
. peter doocy is live in washington with more. hi, peter. >> today's unemployment effort will be the first since super storm sandy hit the east. any jobs that were lost economists are expecting a lousy report as a result of the storm. but regardless of what the number is, we are still one day closer to the fiscal cliff. even though speaker of the house john boehner's office says the lines of communication on both sides are open we know one thing is not being discussed by democrats and that one thing is extending the busheir raw tax cuts for top earners. >> oo i am not going to sign any package that prevents the top to go up but i am going to get something that is good for this fm lay and good for the american economy. >> in the senate mitch mcconnell proposed a vote on the part of the president's proposal that would allow the white house and not congress to control on its own without their input. but majority leader harry reid said that is not. >> if the president's proposal is made in good faith our friends should be eager to vote for them. so i am surprised the majority leader declined a
rushes home to washington, cutting short his hawaiian vacation in order to resume talks on the fiscal cliff. there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the country yesterday, dropping blizzard-like conditions and record snowfall in the midwest, and by late afternoon, euclid moved northeast, bringing traffic to a standstill, forcing the cancellation of more than 1,500 flights on one of the busiest travel days of the year. the weather channel's mike seidel has more on the massive christmas storm. >> reporter: a major snowstorm has dumped over a foot of snow across parts of the midwest. indiana got hit hard. high winds adding to the misery there. >> it's a lot better with the four-wheel-drive, but it, yeah, it's definitely a doozy out there. >> reporter: and there's lots of snow in little rock
at the washington cathedral, it was his really earliest political inspiration. both the president and senate majority leader reflecting on daniel inouye both a long time legislator but two days they will be getting back to work on the fiscal cliff. >> heather: the difficult job of reporting from hawaii, thank you so much, ed. >> gregg: the mother of john hammer telling her son is now in a louisiana hospital. he was released from a mexican prison last week after months behind bars. mexican authorities arrested him after he carried an antique shotgun into their country, even though he says he legally declared the weapon and had a permit for it. today his dad reportedly brought him to the emergency room during their drive back together to florida. his family reported he had a stomach flu of some sort. earlier his mother was clearly relieved to hear that her son was on american soil. >> it was like my first night that i slept all night long without getting up. it was just the thought of not wondering what is going on with him. can anyone hurt him? he is eating and he is able to actually have a m
, if lawmakers do not come to an agreement, washington will be forced to pay farmers based on very dated calculations. >> it would translate to about $8 per gallon some time after january 1. >> as lawmakers aha new york russell with the fiscal of, some shoppers are already suffering on milk. >> we have a son, and he likes it. i am not going to continue buying it. >> customers who could start gravitating toward moment milk could pose -- toward almond and soy milk could cause problems for the dairy industry. >> people might find subsidies to milk. >> it affects other items, like cheese and ice cream. >> it is big in my house. but we would have to cut back. >> if there is one thing everyone can agree on -- we do not need one thing going up in price. >> right now, the national average price is about $3.55 a gallon. we would start seeing prices increased up a little bit, right after the first. we will see the highest prices sometime in march. >> city police are investigating two separate shootings this christmas. the most recent happened around 7:30 this morning, in northwest baltimore. offic
, warning lawmakers they will stay in washington until a fiscal deal is reached. allen west is here. before we get to the idea of staying in washington, you have said that negotiating with president obama is, to quote you, silly. >> i think when you look at what just happened today, the federal reserve will go into what is using -- >> greta: printing money. a fancy way to say it -- >> to the tune of $45 million a month foritous buy up our own treasury stocks. the argument is about $85 billion per year. when you put it thatn that context and understand that revenues have increased in the united states of america by 10% and spending by the for the government has increased 16% and we have a federal government spending 25s% of our gross domestic product, this is not a revenue issue, this is a spending issue. i think what we need to do is come up with the right type of legislation to solve this thing, keep these tax rates where they are and then if we want to come back next year and do the right thing, as far as the comprehensive tax scprmpl really solving this and promoting economic growth and
deutsch. >> incorporated. >> exactly. and in washington, nbc chief foreign affairs correspondent and host of "andrea mitchell reports," andrea mitchell. she is a huge fan in jane heller. >> jane heller said she looked extraordinarily elegant last night. >> you were remarkable last night on television. >> when andrea mitchell is involved in anything, it upgrades the elegance. >> made me feel better. >> we had to counter you somehow. >> that's why we brought her on. so under fire, rice ends her bid to succeed hillary at state. and this is the lead. president obama knew before he picked up the phone on thursday afternoon what susan rice, his ambassador to the united nations, was calling about. she wanted to take herself out of the running for secretary of state and spare him a fight. and that's exactly, mika, what she did. >> so brian williams asked her about this, and here's a little bit more of her explanation of how this happened. oh, we're standing by because -- what? you guys don't have the sound bite? okay. >> i guess so. >> so let's roll it. >> i've done sunday shows many times in the
about it. the only thing being we're relying on our leaders in washington to try to craft some sort of solution. >> did you have quotes around the word leader then? i'm only watching your lips. if you were to type that, would there be quotes around leaders? >> yes. >> thank you. i rest my case. >> i'm willing to take those quotes off. >> if they show that they are truly leaders without quotes. >> i come to work every day, my tallahassee paycheck, still in my wallet. i was a reporter. i made $137 a week. and if i had seen that go down to 127, i would have been angry. that was my subsistence. there are people who play for dinner in this country and their subsistence are on the line and they're going to be furious. but they're not going to get furious until they see their paycheck. >> it's going to impact gdp in the first quarter, and the second quarter. americans are feeling like they're protected from the democrats? because they're in lower income households? but they won't be. their paychecks will be less because the payroll tax cut will be gone. the amt, also gone. that will affect
of washington and our very own john harwood is there. >> reporter: mandy, we've got a letter from the republican leadership to the president and to the democrats in the senate saying that the house has acted, they passed legislation last year to extend all the tax cuts and to shift the scheduled sequester cuts from defense to domestic programs, but, of course, in urging the senate to act saying, well, we've acted, now it's your turn, we're simply not going to see the democrats take them up on that because president obama since that letter has won the election and now we're looking at the possibility of a mini deal that would get enacted before january 1st but so far all we've heard are the sounds of silence in the negotiations. a senior white house official told me today when i asked was there any holiday season progress, back channel progress over the past couple of days, got a one-word reply, no. second, the democratic senate leadership says there's a 50/50 chance that we'd get a deal between now and january 1st, but they don't have any progress signs to point to in a tangible way. that's sort
but mandy has been celebrating boxing day all day. we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. the nasdaq hardest hit today. technology has been very volatile recently. still down a fraction right now. 13 points, fraction percentage-wise and the s&p is down 3.33 at 1423. five days left until the fiscal cliff deadline, and though the market has been very resilient to this point, what happens if we go over the cliff and if lawmakers cannot get it together come january 1st? will it be a big meltdown for wall street? that's what everybody wants to know. >> certainly hope know. in today's "closing bell" exchange, fo
guys in there tangoing, you have a chance to get it done. >> brianna keilar is live now from washington. we don't have a lot of details about what went on in that meeting. maybe if they're both not talking, that may be a good thing. >> that's right. in fact, we have almost absolutely no details. the things that really interesting, though, to observers here is the statement that came out from the white house and from the speaker's office. they're the same statement verbatim. they're not leaking details. and that's something that you may see as possibly a good thing. it's certainly not a bad thing. it means they're coordinating and trying to negotiate or speak with good faith here. so this is, as you mentioned, the first time that the two have met in the last 23 days. this is the first time that john boehner and president obama have met one-on-one since election day just to give you a sense. again, to stress no word on progress that they're really get being anywhe -- getting anywhere here. house republicans don't want to cave on the white house's demand, the tax income race, the income ta
in washington tonight. -- new calls in washington tonight. a long, dorman discussion on capitol hill about gun control. some say it is time to reinstate a ban on assault weapons. one senator from west virginia, a longtime nra member, says he is now rethinking his position. >> i do not know anybody who goes hunting with an assault rifle. i do not know anyone who needs 39 clips. >> lawmakers have shied away from passing tougher gun laws because of the possible consequences. advocates say tougher laws are not the act -- not the answer. avoiding the fiscal cliff is a priority and it appears there is real movement. officials say the president is proposing a deficit reduction package that would increase the top tax rates on those earning $400,000 the year instead of $250,000 ferret the new proposal comes after the speaker proposed tax hikes on those earning $1 million or higher. a giant of the u.s. senate has passed away. he died tonight from respiratory complications. he was the first japanese american serving in congress. president obama said the governor was revered by all who knew him. he was 88
changed, and it's given them more space. >> here's washington at work. >> washington at its best. >> somehow we found ourselves listening to harry reid. >> yeah. >> on the senate floor. >> mm-hmm. >> comparing the republican party to the new york jets. >> what? >> it's not one of my favorite teams, but it's really, really fun to watch. and that's the new york jets. coach ryan, he's got a problem. he has three quarterbacks. sanchez. he's got tim tebow. he's got a guy like mcelroy. he can't decide who their quarterback is going to be. that's the same problem the republicans are having. romney's gone, but he's still in the background. we have mcconnell, and we have boehner. who is the quarterback, mr. president? who is the quarterback? >> richard haass, a quizical look on your face. >> normally when you play football, you don't decide the other team's quarterback. >> right. >> that's usually for the coach to decide. so why is harry reid worried about who's the quarterback on the other team, and why is he even using this metaphor to begin with? >> it's painful. stop it right now. >>
. >> in washington, msnbc and "time" senior political analyst, mark halperin. >> we saw him on the streets of d.c. yesterday, and he was very cagey. >> the mean streets of d.c. >> yes. he was so cagey. >> he was. >> yes. yes. >> you can't ever ask those guys what they're doing, wherever they are. where you going? with who? a meeting. >> auditioning for a gang is what i'm doing. >> right. >> yes, exactly. lots of luck with that one. >> should we get to the news? >> fantastic. boy, there's some stories here, unbelievable. >> in the least. >> you talk about libya. i tell you what, you've got assad about to cross that red line. he's going to see russia leaving quick. i think you'll see even troops going in there if he starts using chemical weapons against his own people. about to cross the line. egypt, morsi in trouble. the biggest revolt since mubarak was pushed out of power. "the new york times" also has another fascinating story. john boehner gained strong backing of the house gop. they actually say that the speaker's more powerful today than he has been since he became speaker two years ago. >>
federal law to disclose fees. -- breaking news out of washington. >> we're going to the white house where president obama is about to give a statement on the fiscal cliff. >> we also want to ask the wealthiest americans to pay a little more. it affects everyone striving to get into the middle class. i still want to get this done. it's the right thing to do for our families, for our businesses, for our entire economy. the hour for immediate action is here. it is now. we are now at the point where in just four days, every american's tax returns but rigid schedule to got by law. every americans' paychecks will get considerably smaller. that would be the wrong thing to do for our economy, middle-class families, and it would be bad for businesses that depend on family spending. fortunately, congress can prevent it from happening if they act now. i just had a good and constructive discussion with senate and house leadership about how to prevent this tax hike on the middle class. i'm optimistic we still may be able to reach agreement that can pass both houses in time. senators reid m. mcconnell
was another law that was just passed in washington, so it is a response to the american law punishes human rights violators in russia. it was sparked by the death of a russian lawyer who died died in jail investigating a fraud case at the request of americans in russia. it singles out dozens of russians that police believe are connected to that case. they can't travel to the united states and their assets are frozen. russia has been defiant in this case. it is even launching a posthumous price for the new law and russian voices speaking of saying it's not fair to penalize children. having adopted 60,000 over last two decades, and as you mentioned, there are several dozen cases right now that are pending. several dozen russian children who are in the final stages of this adoption process. those who should be coming to the united states very soon. it is not clear what's going to happen to them. it's very sad because the parents and children have had numerous visits to russia by the parents. the russians have put them through the loops to see the u.s. governm says it will fight to see that th
report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get hammered out in the remaining time before new year's eve and take a listen to senate republican leader mitch mcconnell earlier today explaining the problems he's facing in washington. take a listen. >> the truth is we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> we do know t
to this story. you will keep a straight face because it's important. >>> the "washington post" is reporting the u.s. army is getting rid of soldiers, dismissing them because they don't meet fitness standards. obesity is a rising concern in the armed forces, has even been cited by military officials as a national security concern. between 1998 and 2010, the number of active duty military personnel characterized as overweight or obese has more than tripled and now the leading cause of ineligibility for people who want to join the army, according to military officials. want to know what the healthiest states are? >> i want to know how to live longer. the u.s. today says sitting on the set of a show is not the way. >> sitting too much or in snow too much. unless you live in vermont, massachusetts, connecticut or utah. >> unhealthiest, alabama. >> will die. >> south korea, west virginia, arkansas, louisiana, mississippi. >> what all those states have in common. north carolina. i see no trend. h i was in the land of -- let's do the news. >> i just was, actually. >> two sides of the story. >> okay
, everyone. you're watching "morning joe" brewed by starbucks. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. sure. cake or pie? pie. apple or cherry? cherry. oil or cream? oil or cream? cream. ♪ [ male announcer ] the sound of reddi-wip is the sound of joy. that makes watching tv even better. if your tv were a hot dog, zeebox would be some sort of fancy, french mustard. just like adding fancy mustard to a hotdog makes you go "woah!," zeebox adds video, info, and playalongs to spice up your favorite shows. download zeebox free and say "woah" every time you watch tv. >>> oh, it's time to take a look at the "morning papers," shall we? >> yes. >> 27 past the hour. "the new york times." in a major diplomatic shift for the united states, the obam
.m. and we'll come back to washington, d.c. sunday evening, 6:30 p.m., no later than. >> let's talk about the senate minority leader, mcdonnell, saying hopefully there's time to get this fixed. is there time? >> i think there is. you know, we have done our business in the house of representatives. we have sent a bill to the senate which says we will keep all these tax rates where they are and the senate must act on that bill. that election. -- legislation. we don't need to talk about people getting together in a room to come up with a deal. we need to do that which is pragmatic and keep the money in the pockets of the american people. right now the spending problem we have in washington, d.c. is affecting this country. we have not had a budget passed by the senate in the last three or four yours. we're telling the american people they have to tighten their bootstraps but we do not want to do that in washington, d.c. we have a federal reserve printing more money to the tune of $45 billion a month to buy up treasury bonds, which is a failed monetary policy which shows this economy is not on
-up here. i understand the enthusiasm or encouraging signs coming out of washington. but are these two sides really that much closer together? they seem, in some ways, to be talking past one another. >> right. what we don't know is what happened in this meeting today. that could be a sign of some progress. obviously the speaker made a new offer. now we will wait and see what the president will match that with. the political dynamics here are that the speaker needs to go back it republican colleagues on capitol hill and tell him look what i got the president to agree to that we didn't think he would agree to. what is that piece of this? it has to be on the spending side somewhere. that's where this deal will get made if it get made. obviously this level of activity, meetings, phone calls, activity over the weekend, indicates that something is happening. we are moving toward the goal line here. goal being a deal. but there's no question, there's no guarantee of course we will get there all the way. >> it is very interesting, eamon, speaker boehner's position was 800 billion in revenue in
robinson, msnbc political analyst and associate editor and pulitzer prize winning columnist for "washington post" but most of all i can title them both as two distinguished gentlemen from south carolina. gentlemen, good to have you with us tonight. congressman, you first. is the congress -- >> thank you so much. >> is the congress better or worse off with a guy like jim demint? >> well, i wouldn't put it that way, ed. i think that jim is a very principled guy. i never agreed with a single one of his principles, but he's a very principled guy. he is doing what he thinks he needs to do in order to further his cause. he has had some real serious problems with his relationships in the senate. i think all of us who practice politics know that if you're going to be successful in any legislative body, you have to develop relationships with people and people have to feel comfortable knowing that you are going to be a certain place at a certain time. i don't think that anybody in the senate ever felt comfortable where jim demint was on any of the issues, and he had a lot of strained relationships wi
. >> the markets watching washington and shuttling back and forth between the white house and the capitol. eamon javers has the latest. >> it looks like at this point the senate is going to have to come back on december 26th to take up among other pieces of legislation the fiscal cliff solution. apparently. so whether or not that's set in stone, we don't know. but it looks like they're floating now the idea of coming back after christmas to finish up a fiscal cliff deal. and the evidence we're getting closer to the deal came today with speaker boehner going for another meeting with president barack obama. he did not answer reporters' questions. we don't know exactly what was said in that meeting, but we know boehner has proposed new tax revenue of up to $1 trillion and agreed to the idea of raising tax rates in order to do that including on those folks making more than a million dollars a year. at the white house jay carney was asked whether the president's going to stick to his $250,000 a year threshold for tax increases. carney kind of wiggled around that question, didn't pin himself down. giv
the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a two-month high. s&p up 1 1/3 -- 1.1 on s&p, dow jones industrial average up 114 points, almost a full% enand nasdaq up 1 1/3. the latest on how those negotiations are progressing. >> over the last 24 hours or so we've had a flurry of proposals, counter proposals, responses, responses to responses. as it lies right now, basically all those responses have been rejected by the other side. at the top of 2:00, we should have a new round because we're going to expect to hear from the senate democratic and republican leaders coming out and talking to cameras. we might get more reaction then. but earlier today speaker boehner came out and unveiled the big one, a two-track plan that would have the house vote on what he's calling plan b. take a listen to his rational for going that route. >> at this point having a back-up plan to make sure that as few
are down 11 points on the dow jones. that's hinging on disappointment from washington. the nasdaq is up two and a third point. my partner here on the floor of nyse joins me in the action. 24 hours ago we were sitting here with a triple-digit gain, actually. now, there is disappointment in washington. >> let's just say the markets are digesting all of this news today, that means moving side ways, a fancy word, folks. we are talking like 30 points. that pretty small. and the president sounding alternative sounding con ciliatory and often combative as you hear from john harwood. here is the bottom line. big movers, bank stocks, home moving stocks, that sue just referenced. all basically flat today. if you take a look at the one sector though that is still continuing to have a great day, doing it day after day and that's airline stocks, very positive traffic metrics from airlines in the last few weeks and these stocks have been moving up virtually everyday. there is your market today. this is a quiet day when you see airlines as the market leader. >> true. good point. we will see what happens w
are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock picks for you this hour. >> that's right. well also take a look at another side of google that you very rarely hear about. the internet giant stashing billions in tax shelters to avoid paying taxes. is that fair play or outrageous corporate behavior? especially in this climate. well talk about that. but first, markets are generally higher. dow jones industrial average up 29 points on the day. nasdaq is up 7. and s&p 500 up about 1 1/2. >> they've been that way about the last ten days or two weeks or s
're thinking washington would not be so stupid as to let this fall through, go off the fiscal cliff. bottom line we expect the speaker to hammer away on too much spending. washington has a spending problem, a familiar theme in all these talks, jenna. jenna: we'll take the viewers back there when bain starts to speak. mike, thank you. >> reporter: thank you. jon: wouldn't it be nice if he could talk about some progress. joining us with more on this, kimberly strassel, a columnist for "the wall street journal" as michael lewded to, they have about what, 72 hours really to get something concrete done here? >> that's right. when you think about this, everyone talks about the january 1st deadline but reality is most people are looking at next friday as the real deadline. they're assuming that that is when the markets consider there to be a deadline. if something isn't done by then maybe panic ensues. so when you work back from that you have to leave at least a week for the republicans to put something up in the house, give those requisite three days for members to read it, for the public to see
as the "wall street journal" nbc poll. let's go to washington to the senior congressional correspondent. dana, you talked to the two men who spent their careers in congress making deals like this. how do they pull it off? >> it was a fascinating conversation. the two men you are talking are about two former senate majority leaders. a republican and a democrat. trent lott and tom daschle. they worked on opposite sides for almost a decade. that is the question i asked. it wasn't always pretty, but how did you come up with deals when you had touch negotiations like what's going on right now. the answer was simple. talk to each other. >> i do think that they reached a point where they need to quit talking through the media. i'm talking about both parties and the leaders in congress. some of the most effective wi timth theresint or at dn least with the chief of staff and the director with our key budget people and we really talk about alternatives and hammered it out. >> this will be the test. if we reset it has to happen around the fiscal cliff first. there a lot of other issues out there that co
. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a bipartisan agreement on a smaller fallback plan to keep at least some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she's at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but we'll see. >> reporter: it was the first meeting with the president and a
cliff deal. and is it mitch mcconnell to the rescue. live in washington on the 11th hour negotiations. >> and did you know about to fall off the dairy cliff? >> juliet: have you seen the prices? >> dave: as high as 8 bucks a gallon for milk. >> clayton: oak ridge boys bush. special number tribute for number 41. "fox & friends" begins right now. >> am i wrong about that don't the have a deep voice? ♪ >> oak ridge boys have been on this show many times on "fox & friends." >> good morning, everyone. >> dave: good morning. juliet huddy celebrating an early new year's eve. is it new year's eve? >> juliet: sparkly shoes and everything. i feel like we are waking up at 4:00 in the morning on saturday i better be festive. >> clayton: that's what woke me up this morning. >> juliet: this is a beautiful set it has inspired me. >> dave: it's spectacular. >> juliet: it is. >> dave: it's fiscal cliff time. couple of days away. rare i wake up and say i'm moderately optimistic but that's what the president said. you are either optimistic or you are not. the president said he is modestly optimistic a
earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge of the deal, maybe even past the edge of the deal and then something happens. i still think the market believes there will be a deal, but it is a deal that might happen on january 14th. so, i don't think december 31st is a real deadline, in the mark it's mind. >> steve, tell us, what are the things that can happen that will sort of rouse the market here, move the market up or down ire way? >> well, first of all, i think the tendency for the market right now is to go higher because you have zero interest rates and zero interest rates act as a tremendous stock market flotation device. opposing investments are, you know, yielding essentially nothing at this point, so stocks become very attractive. but i still think the big story and the stories that most traders will be watching is the fiscal cliff so that's story number one. an interesting thing happened yesterday and that's the price of oil traded to an all-time high going back to october, not an a
to work. cisco. tomorrow starts here. >>> while the standoff continues in washington on how to avoid that fiscal cliff, there's another really big conversation that's brewing about how each and every one of your hard-earned tax dollars is actually spent. we got a reality check for you that you may not like to hear. for every one dollar that the government collects, it spends 71 cents of it on the big four. the big four are medicare, medicaid, social security, and interest. just interest on the nation's dea debt. so that ain't pretty and i'm sorry to say it's not getting any prettier. in the next four years, those costs will eat up 100% of every dollar that the government collects. these are sad statistics from the government accountability office. no money for defense, nothing for education, food, safety, veterans, the whole shebang. it's basically in your own personal economy like spending every cent you earn on your mortgage and nothing else. no food,clothes, no car, you get the picture, right. the 20-year prediction is even more mind blowing. the big four is set to consume $1.21 f
jeeps in china. >> that, of course, gets four pinocchios from the washington post. political pali "politics nation" gave it a pants on fire. let's hope we can play the game inside the lines from now on. we can all have our different opinions, but we can't have different facts. the truth is the truth. is the truth. thanks for watching. i'm al sharpton. "hardball starts" right now . >> severely conservative. let's play "hardball." >> good evening, i'm chris matthews down in washington. did you get the impression during the presidential campaign that the press was trying too hard to be even handed? did you think the people delivering the news were pushing what we call ambulanbalance at x expense of the obvious facts? the democrats in this election were like democrats going back to jack kennedy. but the republicans were far to the right as anything we've ever seen from that party, ever. self deportation, treat women like they belong in binders, ignore the rights of gay people, crack down on abortion rights, even in cases of rape. all the lingo in the gop platform approved in tampa, an
. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of the fiscal cliff negotiation, and what a gop leadership aide is now telling news news is the speaker is now prepared to offer what he's calling a plan b, or a modified plan b in which we don't do the grand big deal that the president and speaker of the negotiating on, but instead do something much smaller that would eliminate the pending tax increases for all americans, the speaker saying that he would like to have some kind of a deal, a modified scaled-down proposal now that would eliminate those for as many people as he can. the details are very sketchy on what modified plan b actually means in practice. but basically, it's something he can keep in his hip pocket right now in case these negotiations with the president don't bear fruit. and presumably what we're talking about here, carl, is a little
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